Gilt Groupe news and archive

How Gilt established its business in the luxury fashion world: A case study

According to McKinsey’s fashion forecast analysis, the global industry will show revenue growth of 2 to 4 percent in 2024, with the luxury segment continuing to generate the majority of economic gains. LVMH led with a 9 percent increase in sales, reaching over 86 billion euros, and a net profit surpassing 15 billion euros. Hermès notably...

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Retail

Gilt partners with stylist Rachel Zoe for curated shops

Online fashion outlet destination Gilt has announced a partnership with Rachel Zoe to create special curations. The celebrity stylist and fashion designer will handpick items across womenswear, menswear and home decor for two online boutiques. The second edition will be focused on Mother's Day gift recommendations. Gilt functions as a membership...

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Report

HBC purchasing Gilt

Last month, FashionUnited reported that Saks's parent company Hudson's Bay Company was in talks to purchase flash sales site company Gilt Groupe Inc. It seems like the talking is over, because on Thursday, January 7, WWD reported that HBC has purchased Gilt Groupe Inc. for an estimated 250 million dollars in cash. The deal is expected to close...

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Business

HBC purchasing Gilt

Last month, FashionUnited reported that Saks's parent company Hudson's Bay Company was in talks to purchase flash sales site company Gilt Groupe Inc. It seems like the talking is over, because on Thursday, January 7, WWD reported that HBC has purchased Gilt Groupe Inc. for an estimated 250 million dollars in cash. The deal is expected to close...

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Business

HBC in talks to acquire Gilt Groupe Inc.

Gilt Groupe Inc. is currently in talks to be sold to Hudson's Bay Co., the parent company of Saks Fifth Avenue and Lord & Taylor. The unfortunate news for Gilt is that they will be sold for a fraction of the value placed on it by investors four years ago. HBC is expected to acquire Gilt Groupe Inc. for 250 million dollars, a quarter of the 1.1...

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Apparel

Gilt Groupe names chief executive

Online designer flash-sale website Gilt Groupe has announced the appointment of board member and Citigroup Inc Internet executive Michelle Peluso as chief executive officer. In a move to prepare the e-commerce retailer for a possible initial public offering, Peluso will replace Gilt’s founder and current CEO, Kevin Ryan in February, 2013. Ryan...

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